Staff reports
In an effort to stimulate Minnesota’s sluggish economy, state Sen. Jim Metzen, DFL-South St. Paul, and other senators have unveiled the Minnesota Jobs Bill. The legislation would jump-start the ailing vertical construction industry, establish an Angel Investor Tax Credit, give tax credits for rehabilitation of historic structures, and allow municipalities to designate a project as a qualified green building and sustainable design project. The Angel Investor Tax Credit is something that Senator Tom Bakk, a gubernatorial candidate, promoted on his last visit to the North Shore.
“With the economy only slowly recovering, a job-creation bill like this can have a far-reaching effect across the state,” said Sen. Metzen. “The federal stimulus bill contained major expenditures for roads and bridges, but did little for the vertical construction industry and its workers. It’s important to get this major industry back to work creating jobs in Minnesota.”
The Minnesota Stimulus Bill also gives local governments more flexibility to create jobs by selling bonds for green buildings and sustainable design projects, as well as allowing them to make assessments for energy-efficiency and conservation projects. The legislation extends by one year the expiration date of building permits for economic development projects, easing the burden on contractors who want to build during these tough economic times.
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